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Financial sector workers threaten to shut down banks, others

MPC retains Monetary Policy Rate at 14%

Workers in the financial sector on Monday vowed to shut down banks and other financial institutions across the country over the increasing casualisation of workers in the sector.

They also registered their displeasure against the manner in which their employers had turned deaf ears to the renegotiation conditions of service in the sector, after the Collective Bargaining Agreement (CBA) had expired since 2007.

This was made known by the President, Association of Senior Staff of Banks, Insurance and Financial Institution (ASSBIFI) Oyinkan Olasanoye, while speaking at an event to mark “World Decent Work Day” in Lagos.

She called on the Central Bank of Nigeria (CBN) Chartered Institute of Bankers of Nigeria (CIBN) and Nigeria Employers’ Consultative Association (NECA) to intervene in the situation before the association embarked on drastic actions that would subject the sector to serious crisis.

Olasanoye said: “The statistics has not only frightening, but have grave implications for banking, especially given that this category of workers are denied basic rights and treated shabbily.

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“As we have indicated in the past, despite awareness by most employees on ILO Conventions that deal with rights of workers, all manner of indecent treatments are still discernible in our various workplaces. While more demands are placed on workers, they simultaneously continue to face threats to decent pay, conditions of work, safety and outright job loss.”

According to her, it would be better for CBN, CIBN, NECA to meddle in the matter to stop casual/contractor staffing in the sector and also address the defiance of employers to renegotiation of CBA, in order to dowse the tension in the sector.

She also revealed that the group had met with the ministry of labour and employment, CIBN and others, adding that the situation any moment from now would force labour to mobilize members and shut down the sectors for the employers to do the needful.

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